Meet Robert and Jane.
Robert is a successful businessman, and Jane owns a growing restaurant and catering business. They enjoy entertaining family and friends at home, but haven’t had much time for hosting in recent years because of Robert’s demanding schedule and Jane’s focus on building her business.
Jane recently trained a few managers to take over the day-to-day operations of her business. With a solid management team in place, she and Robert realized that they have more time to spend at home focusing on what matters most—spending time with their family and friends.
With more time to cook in her own kitchen, Jane quickly realized that the appliances were outdated and the space wasn’t necessarily designed to entertain large groups comfortably. Robert and Jane decided to embark on a full kitchen remodel and began designing their dream kitchen.
Robert’s income is consistent, while Jane’s income fluctuates from month-to-month due to the nature of her business. They’d prefer to complete the remodel without impacting their monthly cash flow and wanted to learn more about their options.
With design plans in place, Robert and Jane turned to their Wells Fargo Private Bank relationship team for guidance. The team reviewed their overall wealth plan, analyzed their current cash flow, and went over borrowing options.
The Wells Fargo Private Bank team recommended a credit strategy consisting of a Home Equity Line of Credit with preferred-client relationship pricing. This line of credit provided easy access to funds throughout the project, allowed funds to be sent directly to their contractor, and their interest payments were tax-deductible.
With their new, spacious kitchen complete, Robert and Jane are able to get back to doing what they love most—entertaining family and friends. Now that’s cause for celebration.
Optimizing cash flows and income is just one of the five strategic ways credit can be put to work for you. Let’s start a conversation about credit.
Contact Wells Fargo Private Bank to learn more.